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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
 Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Research Analyst of Allied Shipping says, at the end of 2018, we were noting strong levels of optimism and bullish sentiment for the year that lay ahead, especially when given the overall recovery that had been noted in 2018 and 2017, whilst most core index figures finished at relatively good levels. Given these positive trends, for most, 2019 was set to also be a year of general upward momentum, inline somehow with the perceived perception that fundamentals were still improving and there would be more balanced and sustainable dynamics witnessed in the market. Even for those that held a more conservative view as to how things would transpire, few would have called the steepness of the downward correction noted, the increased volatility or the continuous shifts in sentiment that characterize the current market.
After more than 3 months of being stuck in the doldrums, Thomas Chasapis says, with volatility rising for the first quarter of this year by 178% compared to the same time frame back in 2018 (using standard deviation), we finally saw the BDI pass above the 1,000 basis point mark once more (a point last held at the end of January). Even if you consider this recovery to be momentary and driven mainly by the recovery noted in the Capesize segment, it still represents a huge “breather” for the overall dry sector.
Taking this last point, it is interesting to see the BCI trends of late in more detail. The BCI time charter average closed on Friday at US$ 11,182/day, while just a month prior, it had reached its lowest level (since 2016) of 3,460 US$/day, as such placing the recovery gain in the region of 223% in almost 1 month. If this doesn’t sound so impressive, the BCI index made an even more impressive jump, going from a low point of 92 basis points at the very start of April, up to 1,290 points (14 times higher!).
Furthermore, Research Analyst of Allied Shipping noted that, adding a taste of forward sentiment coming through the paper market, a considerable boost was noted not only for FFA contracts for this year, but also for the calendar years of 2020 and 2021. Notwithstanding this, there is still a fair bit of road ahead before we start witnessing any sort of rebalancing in this segment. The turmoil derived from the Vale incident a few months back continues to shake the market, while now, given that most parties involved are now in the process of adapting to the new market realities, we can expect huge levels of volatility and asymmetries for the rest of the year (at least). Moreover, even if we assume an increase in demand for iron ore in the near term and that it will be absorbed completely by the other main exporters (such as Australia), we will still be left with a tremendous gap in tonne-miles which will continue to add an excessive amount of negative pressure on freight rates.
All-in-all, while leaving aside the rather mediocre state being portrayed right now in the dry bulk sector in terms of earnings, the point that troubles most is the overall feeling of uncertainty surrounding the market. Moreover, given a potential 25% levy to be imposed in US imports from China by this Friday as mentioned by President Trump’s tweets on Sunday, it is obvious that we will continue to face random and unpredictable shocks, with tremendous consequences to the overall state of the freight market. With all being said, even under good and strong fundamentals (i.e. balanced supply-demand dynamics), it is very difficult at this point to make any confident assumptions as to what direction the market will take next, even on a short-term basis.
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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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Showing 1356 to 1360 news of total 6871 |
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- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- The University of Queensland
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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